XRP Slammed as ‘Centralized Security’ by Top Angel Investor

Prominent angel investor Jason Calacanis said that an XRP ETF could undermine securities laws, particularly as speculation about an XRP ETF grows.
Experts like EGRAG CRYPTO and Dark Defender are forecasting significant price increases for XRP, with a rally to $8 by March 2025.

Jason Calacanis, a prominent angel investor who invested in Uber and Robinhood early, described XRP as a “centralized controlled security.” His criticism relived controversy surrounding XRP’s regulatory position and its distinction from Bitcoin.

Jason Calacanis Slanders XRP

Calacanis asserted that crypto industry veterans consider XRP to be the antithesis of Bitcoin. He further asserted that the approval of a spot XRP ETF would erode securities laws. His assertion comes as market speculation increases regarding a possible XRP ETF in the U.S., as mentioned in our previous article.

In reaction to Calacanis’ statements, XRP dropped more than 4%, going under the critical $2.70 support level. The XRP price recently traded over $2.80, evoking optimism about a breakout to $3, but the latest moves have created confusion among investors on its future.

As of writing, XRP was trading at $2.69, down 2.07% intraday on Monday, February 17. Meanwhile, according to Coinglass, XRP open interest fell 4.06% to $4.12 billion after recently hitting $4.2 billion. Despite this drop, the crypto gained nearly 12% over the past week, fueled by positive developments around Ripple.

Market speculation is mounting for a settlement or dismissal in the ongoing Ripple vs. SEC lawsuit, particularly with the likelihood of a new SEC Chair being appointed, as noted in our previous story. The positive outcome could pump up the XRP price enormously.

Furthermore, talk of a potential XRP ETF in the U.S. has further boosted market sentiment as well. If it passes, the ETF has the potential to bring in institutional buyers and push XRP into a strong rally.

Analysts Anticipate Big XRP Price Jump

Analyst EGRAG CRYPTO noted that XRP is ranging between Fibonacci retracement levels of 0.888 and 1.0, in the $2.25–$3.30 zone. He forecasts a crucial intersection of Fibonacci levels on March 10, 2025, that could drive XRP’s price to $8, a 3x jump from where it stands today.

Looking even further into the future, he predicted XRP to reach $13 by September 22, 2025, and possibly $27 by June 30, 2025, using further Fibonacci extensions. Another report also predicted a timeline for XRP to reach $17.

Whilst, crypto analyst Dark Defender is still optimistic about XRP’s short-term prospects. He thinks that regaining the $2.7740 level may spark a rally to $3. He also pointed out that breaking existing resistance levels could set the stage for a much bigger price spike.

His assessment is in accord with celebrated analyst Ali Martinez, who recently said that XRP is creating a “cup and handle” chart pattern, which is a positive technical formation. Martinez estimated a move to $3.35 if the pattern materializes.

As XRP’s performance in the market is in the spotlight, some experts have predicted that it may overtake Ethereum. Dark Defender noted that between September 2023 and January 2025, the price of XRP increased by 564%, whereas Ethereum increased by just 80%. He contended that this difference in performance reflects XRP’s increasing dominance.